May 10, 2022
We’ve heard from a number of users saying they wanted more time to increase bids on the assets they’re bidding on, which is why we’re excited to introduce extended bidding in our next round of auctions, starting Thursday, May 19th.
With extended bidding, you’ll never have to lose out on a bid because time ran out. For all items you’ve bid on before their initial closing time, bidding will be extended by an additional four minutes.
Let’s go over how it works!
1. You will be able to participate in extended bidding for all items you place a bid on prior to their initial closing time. For example, if an item is scheduled to close at 9:30pm EDT, you must place your first bid before 9:30pm to be eligible for extended bidding.
2. After the item’s initial closing time, bidding will then be extended for an additional four minute period. During this window, all bidders who placed a bid prior can bid again.
Using the previous example, the first extended bidding window for an item ending at 9:30pm EDT will run until 9:34pm EDT.
3. Each time an additional bid is placed, bidding will then be extended by another four minute period, meaning if you place an additional bid at 9:31pm EDT, this will extend the end time to 9:35pm EDT.
4. Extended bidding on an item will end when there is no further bidding for a four minute period. Liquid Auctions will be considered fully closed once extended bidding is over for all items.
This will allow you to stay competitive throughout Liquid Auctions and not have to worry about losing out on an item at the last second. Happy bidding!